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Houston Mortgage > Glossary >
Mortgage > N 1-10
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National bank
A bank chartered by the federal government and a mandatory member of the Federal Reserve System.
National Credit Union Association
Created in 1970 to charter and supervise federal credit unions.
National Credit Union Share Insurance Fund
Insures credit union deposits.
National Foundation for Consumer Credit
A nonprofit organization that educates consumers about using credit wisely. The NFCC is the parent group for Consumer Credit Counseling Service.
NCUA
National Credit Union Association: Created in 1970 to charter and supervise federal credit unions.
NCUSIF
National Credit Union Share Insurance Fund: Insures credit union deposits.
Needs-based pricing
An unrealistic method by which a seller decides how much to ask for a house. Instead of pricing the house based on prices paid recently for comparable properties, the seller bases the asking price on how much he or she paid for the house and any upgrades.
Negative amortization
A gradual increase in mortgage debt that happens when the monthly payment does not cover the entire principal and interest due. The shortfall is added to the remaining balance to create "negative" amortization.
Net cash flow
Incremental after-tax income plus depreciation expense resulting from investment.
Net income
The amount left after taxes have been paid.
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